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Explain the concept of the business cycle

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Reference no: EM132790200

1. Explain the concept of the business cycle and relate the phases of the business cycle to AD-AS analysis.

2. Outline what is meant by demand-side and supply-side shocks?

3. Identify and discuss some of the main economic shocks to the global economy since the early 1970s.

Reference no: EM132790200

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